235.18  Annual capital outlay budget.--Each board, including the Board of Regents, shall, each year, adopt a capital outlay budget for the ensuing year in order that the capital outlay needs of the board for the entire year may be well understood and, insofar as possible, provisions be made for same. This capital outlay budget shall be a part of the annual budget and shall be based upon, and be in harmony with, the educational plant and ancillary facilities plan. This budget shall designate the proposed capital outlay expenditures by project for the year from all fund sources. No funds shall be expended on any such need not included in the budget, as amended.